Answer:
Explanation:
Farmer:
Total cost of production of farmer = number of bushel × cost of per bushel
= 119 × $3
= $357
Total revenue of farmer = price × quantity sold
= $5 × 119
= $595
Total profit of farmer = Total revenue - Total cost
= 595 - 357
= 238
Firm F:
Total cost of production of firm F = pounds of flour × cost of per pound
= 51 × $6
= 306
Total revenue of firm F = price × quantity sold
= $10 × 45
= 450
Total profit of Firm F = Total revenue - Total cost
= 450 - 306
= 144
Answer and Explanation:
Classical Theory:
Classical theory states that the economy is free flowing and that there should be no outside intervention. It states that the prices and wages move up and down freely. During good times the prices and wages tend to increase and during bad times or recession the prices and wages are adjusted accordingly to downwards.
Another vital information pertaining to classical theory is that it states: economy is always at full employment level of output. Which means that the aggregate supply curve is vertical and this implies that the increase in aggregate demand or a decrease in aggregate demand will lead to increase or decrease respectively. However, the output will remain same in the economy when it comes to the classical approach.
Answer:
[(Accounts receivable at the beginning of the year + $138,000) - $144,000] - cash realizable value at the beginning of the year
Explanation: The question is incomplete but just apply the missing figures: [(Accounts receivable at the beginning of the year + Sales on account - Collections on account - write off) - bad debt] - cash realizable value at the beginning of the year
[(Accounts receivable at the beginning of the year + $390,000 - $230,000 - $22,000) - $144,000] - cash realizable value at the beginning of the year
Answer:
MICE; GIT; FIT
Explanation:
Meetings, Incentives, Conferencing & Exhibitions.
The MICE market refers to a specialized niche of group tourism dedicated to planning, booking, and facilitating conferences, seminars, and other events, which is a big moneymaker in the travel industry.
Group Inclusive Tour
It is a travel program with a special fare and specific requirements usually a minimum number of persons often more than 5 persons traveling as a group throughout the tour.
Foreign Independent Tour
Though somewhat of a misnomer, an FIT is any customized independent tour arranged by a travel agent.
Answer:
1. Yes
2. - privacy concerns
- may lack full details.
Explanation:
1. In this scenario the automobile auction house would need to show video evidence of his (San Rafael's) fraud activities to the investigator.
2. Privacy concerns such as how the information gotten from video surveillance is used may pose a challenge.
There's also the reality of a lack of full details. For instance, San Rafael may be deaf a disability that cannot be reflected well on a surveillance video that shows him working.